E-residency – why would you need it?
Since 2014 Estonia offers digital identities for non-residents in order to enable access to many of the same e-services that were previously only available to persons living in Estonia. Foreign entrepreneurs have often many questions when they are suggested to apply for e-residency in order to manage their company. So, what is this e-residency about?
The life of e-residents just got more complicated
On 15th of January 2018, Commercial Code amendments regarding juridical persons and their availability requirements came into force. Before, the Commercial Code said, that if the residence of at least half of the members of the management board of a private limited company, a public limited company or a branch are not in Estonia, in another Member State of the European Economic Area or in the Swiss Confederation, the private limited company, the public limited company or the foreign company shall appoint the contact person, whose address is in Estonia and who has a right to receive documents on behalf of the company.
‘Start-up visa’ to attract entrepreneurial non-EU nationals to Estonia
As from 18 January 2017, it has become easier to obtain a temporary residence if you have a good business idea. Simply apply for a ‘Start-up visa’.
Estonia is quite restrictive when it comes to immigration. There is a quota of a maximum of 1,300 temporary residence permits per year, not including refugees under EU’s relocation programme, and last year this quota was filled before the end of the year.
The start-up scene in Estonia is, however, rather vivid, and many entrepreneurs, who want to come, are hindered by the restrictive immigration rules. So a change was needed.
As from 18 January 2017, the Estonian Aliens Act includes an exemption making it easier to obtain a visa if you have a good business idea. This is called a ‘Start-up visa’.